§ Mr. Robert Sheldon
Receipts of Customs and Excise duty and estimated receipts from VAT on spirits were:
£ million Customs and Excise Duty* VAT Total 1974 555.8 95 650.8 1975 661.9 100 761.9 1976 864.1 115 979.1 * From January 1976 the small protective element of the former customs revenue duty on imported spirits has been collected separately under the Import Duties Act 1958. This sum is excluded from the 1976 duty receipts figure.
Net receipts of value added tax are published in Table 3.11 of Financial Statistics, a copy of which is in the Library of the House.772W
circulation with the public. In turn, M3 comprises sterling M3 plus all deposits held by United Kingdom residents in foreign currency. The following table shows private and public sector deposits with the United Kingdom banking sector, sterling M3 and M3 in the years to which my hon. Friend refers: